The practice has its roots in the early days of the drilling boom,
when companies from around the world began leasing land as fast as they
could -- locking the property into five-year deals that kept competitors
at bay. Then, as drilling picked up, the increased supply of natural
gas led to a record-setting drop in prices.

Suddenly, it wasn't as
easy to turn a profit on a well. Many companies pulled out of
neighborhoods where rigs had been planned, leaving those leases behind
in the process. That left many landholders unsure when -- if ever --
they'd see a well on their property that would bring a steady stream of
royalty checks with it.

The investment firms moving into the
region are offering to buy those left-behind mineral rights. Landowners
get money for that vacation home today, and the investment firm gets
access to the royalty payments that may -- or may not -- come later.

If
there's one word associated with the practice, it's risk -- risk for
the company that might acquire useless mineral rights, and risk for the
landowner who could miss out on lucrative royalty payments in the
future.